Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

Oil Minister: Iraq will be at the forefront of the oil producing countries after the implementation of contracts with international companies

stressed Oil Minister Hussein al-Shahristani said Iraq would be at the forefront of the oil producing countries after the implementation of contracts that were agreed upon in the two rounds of the first and second licenses.

Shahristani said in terms paid by the agency and the independent press (Iba) that the contracts that were agreed upon and signed with oil companies will raise the production ceiling to 12 million barrels per day, not to mention the other fields to put Iraq at the forefront of the oil producing countries.

It also said Iraq's revenues will enable the reconstruction and the provision of services and housing and raising the standard of living of citizens of Iraq, plus it is another way to put Iraq on the political map of the world, is to be the first in the energy market in the world, making it the first controller in global oil prices.

Shahristani said he surprised that the world is fascinated by what happened in Iraq in two rounds of licensing, including the left-wing in South America that have requested to benefit from the experience of Iraq to help protect their rights from the oil companies at a time rushes to the Iraqi political and reduces the knowledge and credibility of the Iraqi political and informational. The oil minister said the ministry had fought a tough round of conflict with oil companies in order to verify its findings and ensure the rights of Iraq's oil wealth.

He pointed out that there are important differences between the first licensing round and the second licensing round was the fact that the first round included the producing fields, but production was not the required level and we need to revitalize and increase the production and not to leave the oil in the ground. The Delegation As to the second round of licenses have included fields discovered but not developed, so it was a different formula contracts.

He said oil companies were in the first round hoping to put pressure on Iraq on the traded price or the nature of the conditions accepted in the global market, where it was done through sharing contracts is happening in the Arab countries now. He said the first round saw awaited by companies and not to rush the low level of prices or agree to the terms which placed Iraq in the service contract itself.

Shahristani stressed that the ministry was proactive this reality, describing the period that passed between the first licensing round and the second licensing round as "the arms of me" and that the ministry would review the conditions laid down and raise the ceiling price.

He disclosed that the specialized committees of the Council of Ministers submitted a report need to give the ministry the authority to negotiate and to raise prices so the decision was issued, and the company hopes to change the ministry's vision and raise the ceiling price in order to achieve corporate profits. He said the department would have full confidence in and knowledge of the situation, although the prices that were low by Nlkn it leaves a small margin of profit, so the ministry has remained steadfast on its position as attractive to companies and preserves the rights of Iraq's national wealth.

He said the companies when it is satisfied Iraq's position was fixed in the second round and is willing to accept these contracts and hopes the limits of the unfamiliar in the production of oil prices, which made the second licensing round round competitive sense of the word, and we caused a shake-up in prices the oil industry. He attributed the al-Shahristani, the results achieved in the licensing round to the Iraqi national will and firmness of the decision on his position.

He noted that politicians and the media that "non-Hannah in the evaluation of contracts" was not aware of these facts were not in the interest of Iraq to reveal and advertising in that period, so it Hasten to judge the first half-round licensing information, but when they found that the ministry had achieved what and promised to maintain the national wealth will be a full national control of Iraq, they review their assessments. Shahristani said he hoped the journalists and politicians that Aitjloa issuing statements and identifying positions without depth and knowledge of relevant facts which, if it was not available, wait until they can get it.

http://www.ipairaq.com/index.php?nam...itics&id=20254

Iraqi Airways launches electronic booking service

Iraqi Airways announced the signing of a contract with the company (Open Techcom) To secure the booking services and cutting on flights over the Internet to any person from all over the world without the need to review the company's offices or any of its agents and through the Web site (internet), And on all flights included in the flight schedule to and from any of the Iraqi airports and be paid for the tickets by credit cards such as (visa card) or (Mastercard) or other.

And expected the management of the project to start work this mechanism during a period of 20 days, and these lines is an important development in the work of Iraqi Airways, which has suffered a lot due to suspension and its isolation from the outside world since 1990 because of the former regime's wars with its neighbors.

http://translate.googleusercontent.c...ZpVV-voYBnNaiQ

Basra sign a contract with a U.S. company to establish a petrochemical plant

Head of the Investment Authority in the province of Basra Haider Ali Fadhil, a US company that will be played in the next few days the implementation of investment projects related to the oil sector.

He stated that the Investment Authority in the province of Basra succeeded "in attracting one of the largest companies working in the field of oil services company Baker Hughes, which operates in about 90 countries."

He added that, "The value of projects reached $ 238 million and provides for the establishment of the petrochemical plant to produce oil Firefox, as well as the establishment of workshops for the maintenance and repair of drilling equipment and drilling for oil."

He continued saying that "The third project aims to establish a vocational center to train workers in the oil sector, the company has been able to obtain the spare land for the implementation of the projects near the fields and oil installations and the company will start work very soon."

He pointed out that the company Fadel intended to provide services to foreign companies contracted by the Ministry of oil following the two rounds of licensing the first and second.

Fadel said: "The law prevents carbohydrate disposition land where there are derivatives Hyderukarbonep and more than 60 percent of the territory to maintain the law applies. And the rest of it is land belonging to the Ministry of Agriculture should not be used according to the law in the implementation of non-farm enterprises.

He says the "land that could otherwise be used in investment projects, it is controlled by a lobed forced to pay the investor funds for them to get them out, and therefore the need to invest a lot of support especially in the area to provide land to investors."

The Investment Authority in the governorate of Basra has received since it was founded in 2008 hundreds of requests for the implementation of projects in different sectors by Iraqi and foreign investors, but only eight projects have been implemented so far under the body complained of lack of cooperation from some government ministries and departments in the province.

http://translate.googleusercontent.c...H52Bl9OFmk-0eQ

Start of the session the House of Representatives to discuss the federal budget for 2010

Learn Informed sources from within the parliament session that the House of Representatives has just started to discuss the federal budget for 2010 and the Electoral Code of Conduct.

http://al-iraqnews.net/new/ajeel/51365.html

Iraq’s oil revenues up by $300m in December 2009

Iraq’s oil revenues went up by $300 million during the last month of 2009 to hit $4.499 billion through the sale of 61.3 million barrels at a rate of $73.39 per barrel, the Iraqi oil ministry announced on Saturday.

“Crude oil exports rose in December 2009 compared to November 2009 during which 57 million barrels were sold at $4.205 billion,” the ministry’s official spokesman Assem Jihad told Aswat al-Iraq news agency.

“Basra’s oil contributed to the country’s total exports by 47.6 million barrels worth $3.506 billion while Kirkuk’s by 13.7 million barrels worth $993 million,” Jihad added.

The price of oil barrel went up during December to reach $73.39 compared to November’s $71.94 per barrel, he added.

http://en.aswataliraq.info/?p=125702

Zubair oil field in Basra will provide significant employment opportunities

The Ministry of Oil, on Friday, the final contract for the Zubair oil field in Basra province within Turakbes the first round, which will hopefully save more than 10 thousand jobs and contribute to the development of the economic reality of the province.

The coalition of companies, ENI of Italy, Kocaz Korean, and Occidental Petroleum of America, won a contract to develop the field in Basra Zubair oil within Turakbes the first round, which has a rate of four billion barrels of reserves.

He said Oil Minister Hussain al-Shahristani, during the signing ceremony of the final contract for the field that "the decision to include a field tour Zubair licenses first came to raise the volume of production from this well to 1,2 million barrels per day is permissible six years, compared with current production estimated at 100 thousand barrels," The price it would be "two dollars a barrel, the additional product as the Coalition will pay 35% tax and 25% of the Iraqi partner, leaving 98 cents a barrel for the coalition which is led by Italian oil giant Eni."

He said al-Shahristani said Zubair oilfield contract "is one of the 11 contracts signed by the ministry a preliminary basis and will complete the signing of all final by the end of January current," adding that "the total production of all contracts will be more than 11 million barrels per day, besides the production of national effort."

He said al-Shahristani told (Voices of Iraq) that the amounts Ststtmrha companies "does not set out fully until now where we will wait table to be submitted by companies, which shows an annual plan and the amount Ststtmrh every year," we expect that "not less than the amount invested Zubair field 20 billion dollars, which will create significant employment opportunities more than 10 thousands of a chance."

In turn, said managing director of Italy's Eni, Paolo Scarloni told (Voices of Iraq) that his company is "ready to start investing in the field tomorrow, to prove it is serious in developing and exploiting Iraq's oil wealth," expressing his conviction that the company "is able to master their work and complete to the fullest" . He pointed out that the contracts concluded with the Iraqi Oil Ministry "unique and will help Iraq develop its economy in the coming years" and that the contract "will provide many job opportunities for the hands of the Iraqi working and Qdrnaha ten thousand chance apart from secondary services to be provided as well."

The first round for the licensing of oil, started on 30 June 2009 with the participation of 22 companies worldwide to invest in six fields, and won two companies CANC Chinese and BP British investment field (Rumaila), in addition to the field in Basra, Zubair, West Qurna, which included round main fields which produce more than 80% of the total Iraqi oil production, which Rumaila North and South Rumaila, Zubair, Qurna West, Maysan, Bazargan, Abu west and humorous and the Kirkuk field in addition to the Bai Hassan.

http://radionawa.com/Ar/NewsDetailN....661&LinkID=105

Industry Minister: Poland wants to raise the level of economic cooperation with Iraq

Detection and Minister of Industry and Minerals Fawzi Hariri, the Polish government's intention to send high-level delegation to Iraq to discuss the prospects of economic cooperation between the two countries.

Hariri said in a statement published on the Thursday of the neighbors that the upcoming visit comes within the framework of meetings of Iraq's Commission on Polish joint were a number of files and investment opportunities posed and the ways to develop economic cooperation and look closely at the investment opportunities available in Iraq.

He noted that the number of representatives of Polish companies and businessmen will visit Iraq in the framework of strengthening economic relations and expanding economic cooperation.

http://radionawa.com/Ar/NewsDetailN....580&LinkID=105

Shell .. Launched the largest economic development processes in Iraq

Iraq has officially entered into a strategic partnership with the (Royal Dac Shell) and its ally (Karijali Petronas) of Malaysia after the signing of the final in Baghdad on Sunday, January 17, 2010 a historic agreement supervised by the Iraqi Oil Ministry to develop the Majnoon field giant.

Was signed in the presence of Iraqi Oil Minister Hussain al-Shahristani, and Peter Voser CEO of Shell. In the view of global oil experts said that this agreement would open a new page in the South of Iraq to launch the process of economic development that is long overdue.

After the agreement is important for the development of one of the largest oil fields in Iraq and the world will be locked Shell and its partner Petronas Malaysian race against time to provide technical support services on the development of Majnoon and the introduction of basic services related to infrastructure in the area neglected for decades in Iraq.

It also makes it imperative to win this historic contract to Shell and its partner, the face of security challenges and bureaucracy in cooperation with the Iraqi authorities wishing to Iraq's entry into the big league of oil and gas producers in the world.

According to sources familiar with oil in Dubai, said Majnoon field is the largest non-producing oil field in Iraq and estimated reserves of this field which was discovered in Sbiniat about 12 billion barrels of oil.

The contract which was negotiated for a long and arduous task to provide technical services to develop the oil industry in southern Iraq and that will make Shell and Petronas to invest long-term financing and operating expenses for the operations and development drilling and production to produce a field up to a certain extent crazy start Shell and Petronas recovery expenses in a manner equal to cost and production.

Sources confirm that the expenses which are estimated at billions of dollars to Atstrdja only from specific ratios of production to ensure income adequate physical and lasting solution to Iraq.

And on the expected earnings sources say oil official in Baghdad, said Shell and Petronas will get a dollar and 39 cents on each barrel is produced on the Majnoon field and the rest is attributed to the Iraqi state.

Under the contract, which drew the attention of the global oil industry, Shell will have to bear 60% of project costs borne by Petronas and 40% enter government partner, the Iraqi Missan oil company a 25% share of profit without bearing any responsibility or participation in the financing, estimated at tens of of billions of dollars.

The same sources said the Iraqi partner with income on the basis of profit-sharing only and that the interest should the Iraqi state and that Shell and Petronas will be pushing the local tax rate of 35% on the profits of both companies to the Iraqi government directly.

According to experts, followed difficult negotiations that preceded the signing of the contract, Shell will not stop the responsibility to provide billions of dollars to invest in the development of an insane waste of entire since the seventies, but faced a shared responsibility with the Iraqi government to develop the infrastructure and the local economy in the Albesro in particular, and generally crazy.

In the opinion of these experts that the biggest challenge in the rehabilitation of ports and airports, providing building materials and steel giant new projects and drilling equipment for several hundred wells in the Majnoon field in addition to improving the lives of residents wishing to turn the page of violence and poverty and move towards sustainable development expected to be funded from the proceeds of oil after start the export to the outside world.

And of how the ally to Shell and Petronas to this contract which was signed in Baghdad, officially, sources say oil official in Baghdad: We have put an international tender involving 40 companies from the countries of the world qualified and competition was based on providing the highest ceiling of production that receives the winning company Decade after eight years on the signature, and the lowest percentage of the profit of the company on the drum product.

The Shell and its ally, the Malaysian offer won the approval of the Iraqi government and ensuring the highest output ceiling of Majnoon and the lowest profit for the company and that was the decisiveness of companies competing for the contract on 11 and December 12, 2009 on the basis of points, have been allocated and the Iraqi oil ministry 20% of the points its output and 80% of the rate of profit, and offered to Shell on the Iraqi side the production of 1,8 million barrels within three years of $ 1.39 a barrel product.

According to the new contract, Shell will be a contract for development services and production in accordance with the terms of the second round of licensing for oil and gas contracts are in Iraq. As illustrated by the Iraqi Oil Ministry, provides these conditions for the State of Iraq for all oil production from the field and 25% of the profit participation of $ 1.39 a barrel paid product. While Shell's reserves by 45% of the profits, you get 30%, Petronas and Shell and its partner, attaches great importance to invest billions of dollars in the Majnoon field, which is one of the largest oil fields in the world to achieve superior returns for both sides and the introduction of basic services, provide more jobs for Iraqis and the development of the lives of southern Iraq for the better.

And the duration of the contract reached with the Iraqi government, says the Iraqi Oil Ministry: The contract period of up to 20 years, as the Majnoon field is one of the most important oil fields in the world and its development requires investments worth tens of billions of dollars.

http://www.alsabaah.com/paper.php?so...page&sid=96829

Continued ......

Also made it clear that the contract required Shell and Petronas, the financing and payment of five million dollars annually for training and development of the human race in Iraq to provide the needs of the oil industry of qualified human resources in addition to providing financial contributions to universities, institutes and scientific research centers in Iraq to train university students to work in the oil and gas industry. The duration of the contract for 20 years and guarantee huge financial returns to Iraq more than 90% of the proceeds of the Majnoon oil is expected to produce about 1,8 million daily barrels, which also ensures the provision of thousands of jobs for Iraqis. According to oil industry experts in Dubai, the Majnoon field requires drilling thousands of wells over the next eight years and requires huge amounts of steel, cement, concrete, and machinery and drilling equipment and trucks for its development. In the view of oil sources in Baghdad said the Iraqi government to begin to facilitate the task of Shell and Petronas in the field, and provides security, protection and rehabilitation of ports, airports, lighting and the elimination of bureaucracy. According to independent experts in Dubai, the mega project will ensure that Iraq's firing one of the largest economic development processes in the region due because the project provides for Iraq in the long-term economic stability and sustainable development as well as other projects. Also emphasizes the Iraqi Oil Ministry said the new contracts will transform Iraq into a producer of oil and gas at the same time the Iraqi Government succeeded in the last round of licensing has exceeded expectations.

The experts expressed their hope that the new government to continue expected in March next these efforts and demonstrate the success of this work partnerships and facilitating the contracting of development and economic development through oil and gas revenues and rebuild infrastructure and create more economic opportunities for the development of society in general.

Experts say the oil industry in Iraq, said Shell was the first international oil company provides its services in the field on the ground for more than three years to provide training programs and services needed for life Iraqis in the Basra area, a contribution to the reduction of gas flaring and the development of new electric energy. As a result, congratulations poured in from residents of the crazy and southern Iraq, Shell to contract with the Iraqi government to the giant field, because the people appreciate the contribution of this investment in developing their lives in the future.

On the future of gas industry experts believe Iraq in Dubai, said oil contracts reached by the Iraqi government in licensing rounds will increase oil production and will be coming out with large quantities of associated gas burned in the air. Experts note in this connection that there are about 700 million cubic feet of gas are burned every day in the air, This is another challenge for the Iraqi government has to accelerate in finding solutions with specialized companies. Experts say that the infrastructure of the gas was neglected in the previous regime was not working enough, and now as no solutions are on the ground. There is a partnership project between the South Gas Company, Shell and Mitsubishi Iraqi Japanese investment and utilization of associated gas burned and converted into a liquid instead of burning in the air, but it has not been decided upon yet by the Iraqi government. They also confirmed that the fate of associated gas at least as important as oil production and should be adopted as well because the gas has a vital role in the promotion of the Iraqi economy and provide alternatives for energy and environmental protection from pollution caused by burning gas in the air.

Shows these experts said the government chose (Shell) because they are the only global company present in all Arab countries, and therefore to have experience in developing gas in the region, as it is ready to start work immediately, as participated in a study on the potential of Iraq's gas over the past three years.

It should be noted that (Shell) had contributed to at their own expense in the development of projects and the Iraqi Oil Ministry to improve the gas extraction and consumption, and reduce the use of electricity from the national grid, and maintenance of a power station north of the Rumaila and the establishment of new stations. The experts said: The Shell Oil Company was the first global gas and operating in Basra and opened its offices there, despite the difficult challenges and has started the work crew, technical and engineering included a significant number of Iraqis to take advantage of the gas south to help the Iraqis to reduce the amount of gas burnt in the air and electrical power to all so that are not done at the expense of ordinary citizens from the national grid for electricity.

http://www.alsabaah.com/paper.php?so...page&sid=96829

MP Abbas al-Bayati: Monday deadline for approving the budget

MP Abbas al-Bayati, Iraqi Alliance said on Monday would be the deadline to approve the federal budget for Iraq in 2010, likely to end legislative term after this time.

The al-Bayati said, "There are political blocs are still insists on linking the Electoral Code of Conduct budget."

Revealed al-Bayati as saying "The budget is complete and ready for a vote and that the Finance Committee submitted its report to the presidency of the parliament."

And raised the budget in 2010 a political row in circles because of the parliamentary blocs to link some of the parliamentary approval of the issue of Electoral Code of Conduct, which limits the powers of the government and turn it into a caretaker government, in addition to the objections made by some political blocs.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-23